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David P. McCabe,
WMCP®, ChFC®, CLU®
Financial Planner
Nathaniel D. High, RICP®
Financial Planner
Nicholas J. Over, CFP®
Financial Planner
Sara E. Martin
Operations Manager
Jennifer A. McCabe
Client Service Specialist
jennifer.mccabe@prudential.com
Centuria Financial Group
2333 Baltimore Blvd Suite B
Finksburg, MD 21048
Phone: 443-952-7232
High net worth families often want to give to charity, while ensuring that loved ones - especially a surviving spouse - are taken care of financially. A charitable remainder trust can help accomplish these dual goals.
This type of trust differs from a charitable lead trust, which flips how payments are made to individuals and a charity. The charitable lead trust makes recurring payments to the charity, and at the end of the term you’ve established in the charitable lead trust all remaining assets go to the noncharitable beneficiary named in the trust. Because both types of trusts are irrevocable, which make them very difficult to change, you should consult the appropriate legal, tax and financial professionals before proceeding.
Looking altruistically at a charitable remainder trust, it can serve as a way to pass assets on to favorite charities, which can reduce potential estate taxes, once you know loved ones are provided for. This type of trust can also serve as a financial safety net for surviving spouses, who are often named as beneficiaries for trust payments throughout the remainder of their lives.
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David P. McCabe, Nathaniel D. High, and Nicholas J. Over are Financial Planners with, and offer securities and investment advisory service through LPL Enterprise (LPLE), a Registered Investment Advisor, Member FINRA/SIPC, and an affiliate of LPL Financial.
LPLE and LPL Financial are not affiliated with Centuria Financial Group.
This newsletter is general educational information provided by a Prudential Financial Professional and is not intended to market or sell any specific products and services, but rather provide general information about the subject matter covered only.
Centuria Financial Group and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
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